Ias 10

(mock 3 bpp kit question. 1b hill) Hill has made a loss in the year ended 30 September 20X6, as well as in the previous two financial years. Hill breached a covenant attached to a bank loan which is due for repayment in 20X9. The loan is presented in non-current liabilities on the statement of financial position. The loan agreement terms state that a breach in loan covenants entitles the bank to demand immediate repayment of the loan. Hill and its subsidiaries do not have sufficient liquid assets to repay the loan in full. However, on 1 November 20X6 the bank confirmed that repayment of the loan would not be required until the original due date. sir i'm not understanding why it is a non adjusting event, as the event provides evidence of its existence in the reporting period ?